McCoy takes out insurance policy

[hurdleisu24]

Add Texas quarterback Colt McCoy to the list of returning seniors who have taken out a large insurance policy in case of injury
Brad McCoy, Colt's father, said Sunday that Colt has a policy that would pay between $3 million and $5 million in the event of a career-ending injury.
"The premium is astronomical," said Brad McCoy. "But the payback in the event of a catastrophe puts the monetary value there. We felt it was the prudent thing to do."
Sam Bradford's father, Kent, is an insurance specialist. And because his son is a client, he declined to provide any specifics regarding Sam's policies.
However, Kent Bradford said Sunday: "The odds of a kid getting a career-ending injury is slim. But if it did happen, and you had the chance to insure, chances are you would feel pretty dumb. You're insuring earnings power."
Joe Schad is a college football reporter for ESPN.

 

[CyCrazy]

Add Texas quarterback Colt McCoy to the list of returning seniors who have taken out a large insurance policy in case of injury
Brad McCoy, Colt's father, said Sunday that Colt has a policy that would pay between $3 million and $5 million in the event of a career-ending injury.
"The premium is astronomical," said Brad McCoy. "But the payback in the event of a catastrophe puts the monetary value there. We felt it was the prudent thing to do."
Sam Bradford's father, Kent, is an insurance specialist. And because his son is a client, he declined to provide any specifics regarding Sam's policies.
However, Kent Bradford said Sunday: "The odds of a kid getting a career-ending injury is slim. But if it did happen, and you had the chance to insure, chances are you would feel pretty dumb. You're insuring earnings power."
Joe Schad is a college football reporter for ESPN.

why woudn't you in thier position

 

[Cycofan1]

why woudn't you in thier position

their geniuses. Get injured make 3-5 million. PURE GENIUS.

 

[TykeClone]

their geniuses. Get injured make 3-5 million. PURE GENIUS.

Dude - they're just being prudent.

McCoy came back for his senior season when he could have been playing in the NFL this fall.

As such, he's foregone a payday (for now) with an eye out for a larger payday later presuming he's not injured.

The insurance policy is probably valued at his potential first years' wages in the NFL.

 

[Clonehomer]

These policies are a great thing to have. Really by having companies offer these are helping out college athletics. If these were not available then how many more guys would be leaving early for the pros. Even though the premiums are "astronomical" I would assume that they are deferred until after the player signs a pro contract. Is that true, or are the parents expected to put up the money now?

 

[Cyclone42]

Everybody who can take advantage of this, should, period. Pure stupidity not to.

 

[ISUKyro]

Is there anyway I can get a policy like this and then one of you can take a pipe to my knees?

 

[Clonehomer]

Does this policy cover non-football injuries such as car accident, slipping in the shower, or something like that?

 

[Flag Guy]

Is there anyway I can get a policy like this and then one of you can take a pipe to my knees?

seems rather short sited... in his position taking a one time payout 3-5 million with an "accident" would undercut the potential for earning tens of millions more later

 

[Cyrocks]

I hope this doesn't come off as bashing McCoy, because I think he's a great college quarterback, but I just don't see him as an NFL quarterback. I mean Vince Young is struggling as a NFL quarterback.

I know I'm not an NFL scout or anything like that, so feel free to bash me on the comment.

But, yeah, why not take out insurance? Smart move on McCoy's part.

 

[tim_redd]

Has Brackins done something like this?

 

[clone52]

Has Brackins done something like this?

I would think that he has. It would be stupid not to.

Win for the players that do this and win for the insurance companies.

 

[Clonegrad07]

Why WOULDN'T McCoy or Bradford or any other sure fire top 2 round pick draft pick do this?

 

[IcSyU]

Why WOULDN'T McCoy or Bradford or any other sure fire top 2 round pick draft pick do this?

Quite honestly, there isn't a good reason not to. :wink:

 

[TxCycloneFan]

Dude - they're just being prudent.

McCoy came back for his senior season when he could have been playing in the NFL this fall.

As such, he's foregone a payday (for now) with an eye out for a larger payday later presuming he's not injured.

The insurance policy is probably valued at his potential first years' wages in the NFL.

Do you think he would have seen a snap? At least in September or October?

 

[dosry5]

their geniuses. Get injured make 3-5 million. PURE GENIUS.

HA HA!